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Requirements 1. Prepare an income statement for the upcoming year using variable costing. 2. Prepare an income statement for the upcoming year using absorption costing. O'Shea's Products manufactures a single product, Cost, salos, and peoduction information for the company and its single product is as follows. Yhow the data Read the reevitements Requirement 1, Prepare an income statement for the upcoming year using variable costing Data - Seling price per une is $57 - Variable manufacturing costs per unit manufactured (uncludes direct materals [DM, direct labor [OL,], and variabie MOH) \$35 - Varlable operating expenses per unit sold $3 - Fixed manutacturing overhead (MOH) in lotal for the year 581,000 - Fixed operating expenses in total for the year $88,000 - Unts manutactured and sold for the year 9.000 unta